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Good Advice From Adam Smith For Gordon In His New Home

Penelope Wise
03 July, 2007

Now that Gordon Brown is free of the clammy embrace of his Treasury mandarins, he may want to brush up on his political economy by reading a newly published guide to the great Adam Smith.

The Institute of Economic Affairs has published Dr Eamonn Butler's 'Adam Smith - A Primer', with some quotes specially written for Gordon:

Regulations on commerce are ill founded and counterproductive. Prosperity is threatened by taxes, import tariffs, export subsidies and preferences for domestic industries.

Geddit, Gordon, less tax, not more!

A country’s future income depends on the rate of capital accumulation. The more that is invested in better productive processes, the more wealth will be created in the future.

Geddit, Gordon, stop borrowing money!

Taxes should be proportionate to income and ought to be certain and convenient to pay. They should be cheap to collect, should not hamper business, should not be so onerous as to encourage evasion and should not require frequent visits from tax gatherers.

Geddit, Gordon, abolish corporation tax!

Human nature is a better guide to the creation of a harmonious society than the overweening reason of zealots and visionaries.

Geddit, Gordon, no more special advisers or spin doctors!

Gordon you can buy the book here, and by the way, get an extra copy for Ed Balls.


About the Author

Penelope Wise

Penny Wise but not Pound Foolish! But remember: I am not offering investment advice. My comments are just for your general information; I do not recommend investments, and you should take professional advice before entering any investment contract.


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